Serious Data Breach Notification Bill - Consultation

The Privacy Amendment (Notification of Serious Data Breaches) Bill 2015 has been released for public consultation.  Organisations with a turnover above $3 million are required to notify ‘serious data breaches’ to the affected individuals and the Australian Information Commissioner. A ‘serious data breach’ is one that creates ‘a real risk of serious harm’ to the affected individuals.  This includes reputational, economic, financial, physical, psychological and emotional harm.  The Exposure Draft of the Bill, Explanatory Memorandum, Regulatory Impact Statement and Discussion Paper are available at www.ag.gov.au/Consultations. Submissions can be made until 4 March 2016.